When it comes to district heating networks, the potential lies in the refurbishment of old, damaged systems, said Marc Delaye of Dalkia, a French company that specialises in energy-efficient solutions for electricity companies, industry and buildings.

"If not modernised in the next few years, these heating networks could face bankruptcy," Delaye said.
"If you want to impose district heating in the countries where you already have the network, the priority is to save them".

In countries like Romania and Bulgaria, existing district heating networks are at risk, Delaye said.
If nothing is done, the networks could collapse in some places, he warned.

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However, Delaye says this could be prevented with the help of EU's existing and new funding options, such as the Cohesion Policy, but also the Energy Efficiency Fund and the Innovative Financial Instruments.

"There is a need in the market for liquidity, there is a need in the market for equity to finance these sorts of projects and to make sure they emerge, they come out," Delaye said.